Skip to main content

AN EXAMINATION OF THE LEGAL FRAMEWORK FOR THE MARKETING OF PETROLEUM PRODUCTS IN THE DOWNSTREAM SECTOR OF THE OIL AND GAS INDUSTRY IN NIGERIA

By

Price: 8000 Naira

ABSTRACT





Hitherto, to many, the concept of oil and gas was limited to the search for, work and win
crude oil. So, for many decades, nations only concerned themselves with upstream petroleum
activities. The availability of crude oil determines the extent of relevance a nation
commanded at the global scene. This fact is amplified by the role Nigeria played in the
struggle to rid Africa of colonial vestiges. The marketing of petroleum products (downstream
sector activities) is therefore brought to the fore of the national petroleum industry. The
issues of oil and gas in Nigeria are very topical and sensitive. The products of oil and gas are
present in every home in Nigeria. Arising from this, the government became very much
involved in the supply and distribution of its product. Various laws, including the Petroleum
Equalization Fund (Act) Instituted as a result of the problems associated with the petroleum
distribution, were put in place to govern the petroleum industry. However, there appear to be
inconsistencies between these laws and what actually obtains. This research principally
adopted a doctrinal research methodology which relied on existing statutes, subsidiary
legislation and literature on petroleum products marketing. It analyzed the issues and drew
inferences which culminated in the findings. This dissertation found that the legal framework
for the regulation of the downstream sector of the petroleum industry is not robust and
comprehensive; that there is conflict of functions between the Petroleum Minister and the
Petroleum Products Pricing and Regulatory Agency. This is with respect to the fixing of the
prices petroleum products. This conflicting function does not make for improvement of
effective pricing of petroleum products as it does not allow market forces to determine the
price; that the functions of government regulatory agencies such as the Nigerian National
Petroleum Corporation (NNPC), the Department of Petroleum Resources (DPR), the
Petroleum Products Marketing Company (PPMC) and the Petroleum Products Pricing and
Regulatory Agency (PPPRA) are overlapping and therefore work at cross purposes; that the
Petroleum Equalization Fund put in place for the sole purpose of unifying the pump prices of
petroleum products across the country is ineffective, fraught with corruption and has resulted
in waste of financial resources; and that government involvement in downstream activities
makes law enforcement weak and ineffective. This research therefore recommended a
restructuring and reforming of the legal framework and regulatory bodies for the Nigerian
Petroleum Industry through the passage of the Petroleum Industry Bill (PIB); existing laws
should be reviewed for effective regulation with the roles of government agencies clearly
defined; that the Petroleum Equalization Fund be repealed; and that government should exit
participating in the downstream sector (through the Nigerian National Petroleum
Corporation) and only be a regulator.

Get Complete Materials




Labels:

Comments

Post a Comment

Popular posts from this blog

THE AWESOME LITERATURE REVIEW…SECRET REVEALED…PART 2

By
THE AWESOME LITERATURE REVIEW…SECRET REVEALED…PART 2 Welcome to the second series of my planned four series on the theme ‘Secret Revealed: Discover what your supervisor is looking for and how your project is graded’. Without a doubt undoubtedly, the first series which covered the proposal and introductory chapter of a research project was a great read. This second series will reveal to you my awesome reader what supervisors’ look out for in your literature review. So, as usual enjoy! STRUCTURE OF AN AWESOME LITERATURE REVIEW Introduction Theoretical Framework Conceptual Review Empirical Review Summary of Chapter N/B: The arrangement may vary considering different formats of some tertiary institutions. But for a well written review of related literature, these components are needed. Introduction A brief introduction in your literature review will enable readers know what the chapter is all about. Not just that, it will also earn you good points. The introducti...
1 comment
Read more

DESIGN AND IMPLEMENTATION OF COMPUTER AIDED MEDICAL PROGNOSIS

By
Price: 2000 Naira CHAPTER ONE INTRODUCTION 1.0 BACKGROUND OF STUDY Medical prognosis, (often simply termed prognosis) refers both to the process of attempting to determine or identifying a possible disease or disorder to the opinion reached by this process. A diagnosis in the sense of diagnostic procedure can be regarded as an attempt at classifying an individual’s health condition into separate and distinct categories that allow medical decisions about treatment and prognosis to be made. Subsequently, a diagnostic opinion is often described in terms of a disease or other conditions. In the medical diagnostic system procedures, elucidation of the etiology of the disease or conditions of interest, that is, what caused the disease or condition and its origin is not entirely necessary. Such elucidation can be useful to optimize treatment, further specify the prognosis or prevent recurrence of the disease or condition in the future. Clinical decision support systems (CDSS) are...
Post a Comment
Read more

A STEP BY STEP GUIDE ON RESEARCH PROJECT WRITING FOR UNIVERSITIES, COLLEGES OF EDUCATION AND POLYTECHNICS IN NIGERIA

By
A STEP BY STEP GUIDE ON RESEARCH PROJECT WRITING FOR UNIVERSITIES, COLLEGES OF EDUCATION AND POLYTECHNICS IN NIGERIA Undergraduate research project is an independent effort required of students in tertiary institutions. The students, though supervised by an academic staff, are to carry out a pre-determined research within the constraints of their study. The supervisor is primarily to receive proposals of the research interest, approve it, provide guidance and assess the work at the end. An external supervisor is usual, to provide an external and independent assessment of their research work. The proposal for the topic is to include the intended subject of study, a brief description, justification for the work, aims and milestones, software and hardware to be employed, assumptions to be made, the methodologies involved and the references. There are standards in the research build-up, actual research, and presentation and print submissions. These put the students in shape for th...
Post a Comment
Read more